TASMANIAN LOAN REDEMPTION.
No. 19 of 1919.
An Act to
authorize the raising of moneys for paying off, repurchasing or redeeming
certain Debentures issued by the State of Tasmania.
[Assented to 28th October, 1919.]
BE it enacted by the King’s Most Excellent
Majesty, the Senate, and the House of Representatives of the Commonwealth of
Australia, as follows:—
Short
title and citation.
1. This Act may be cited as the Tasmanian
Loan Redemption Act 1919.
Authority
to borrow.
2. The Treasurer
may borrow moneys to such an amount that, after discount and expenses incurred
in connexion with the borrowing are allowed for, there will remain an amount
not exceeding Three hundred thousand pounds.
Conditions
of loan.
3. The rate
of interest, the date of repayment and the form of security issued in respect
of borrowings under this Act may be such as are approved by the
Governor-General.
Payment
of principal and interest.
4. The
principal moneys borrowed under this Act shall be repayable, and the interest
thereon shall be payable, out of the Consolidated Revenue Fund, which is hereby
appropriated for the purpose.
Application
of moneys.
5. Moneys
borrowed under this Act shall be issued and applied only for the expenses of
borrowing and for the purpose of paying off repurchasing or redeeming
debentures issued by the State of Tasmania under the authority of Act 44
Victoria No. 34 of that State.
Regulations.
6.